Lockdowns and retail disruptions connected to the COVID-19 pandemic contributed to a tough year for Hasbro. The toymaker has reported an 8% decline in revenue for the full fiscal year, to the tune of US$5.47 billion, and net earnings dropped by 36% to US$222.5 million.
Hasbro’s gaming segment drove significant growth in fiscal 2020, with net revenue increasing 15% to US$814.8 million. The total gaming category saw revenue grow by 15% to US$1.76 billion for the full year. (This takes into account all gaming revenue, including brands like Magic: The Gathering and Monopoly, which are part of Hasbro’s franchise brands segment.)
Other brands that posted growth include Dungeons & Dragons, Star Wars and The Mandalorian (pictured).
Hasbro acquired Entertainment One in Q1 2020, and this financial report reflects results for the combined company. Because it did not exist in 2019, Hasbro used pro forma results (hypothetical results for how a combined Hasbro and eOne would have performed in the same quarter last year) to calculate changes in revenue.
According to the toyco, 2020′s lack of movie premieres contributed to a 21% decline in revenue for the TV, film and entertainment segment (US$804.8 million). And its emerging brands (down 17% to US$480.4 million), partner brands (down 12% to US$1.08 billion) and franchise brands (down 5% to US$2.29 billion) segments all saw declines during the same period.
Revenue for Hasbro’s overall entertainment, licensing and digital segment fell 14% to US$373.9 million in fiscal 2020.
The eOne segment reported US$956.5 million in revenue for fiscal 2020 (a 21% drop), and its film and TV category (down 23%) and family brands category (down 28%) both saw declines.
Revenue in the US and Canada grew by 4% to US$2.56 billion for the full fiscal year. But international revenue declined 14% to US$1.58 billion for the same period, remaining flat in Europe but declining in Asia (down 18%) and Latin America (down 45%).
Net revenue for Q4 2020 grew by 4% to US$1.72 billion, with Hasbro reporting US$105.2 million in net earnings for the quarter, a 10% increase compared to the same period last year.
According to CEO Brian Goldner, Hasbro delivered more than US$1 billion in e-commerce revenue for the first time in fiscal 2020 (an increase of 43%). And in fact, the toymaker’s revenue connected to online sales grew by 50% in Q3 2020 alone.
Moving forward, Hasbro will focus on toy and content launches that were developed throughout fiscal 2020. According to the toymaker, new offerings related to brands like Peppa Pig and PJ Masks will launch later this year.